The Sandbox (SAND) Coin: What It Is, What It’s Worth and Should You Invest?
In November 2021, Facebook formally announced it was rebranding itself “ Meta ” — its first base step toward building a metaverse. While the estimate of a metaverse international relations and security network ’ t precisely newfangled ( the television crippled Second Life has shaped its own for respective years ), the concept has never been a mainstream as it has since Facebook ’ s announcement .
In recent years, investors have seen the rise of virtual metaverses entwined with games like The Sandbox, a digital currency-based virtual worldly concern that allows users to create and play games within a game .
What Is The Sandbox?
Pixowl founded The Sandbox in 2012 as a mobile gambling platform and is a play-to-earn blockchain version that allows users to create their own avatars to access the assorted hubs, environments and games on the crypto-driven metaverse. This adaptation of the game, launched in 2018 by its cofounders Sebastien Borget and Arthur Madrid, lets players create their virtual worlds with non-fungible tokens on Ethereum, earning rewards while participating in the ecosystem .
In 2021, Borget and Madrid released the blockchain version of The Sandbox, which finally became one of the fastest-growing cryptocurrency games. The software allows users to build endless 3D items, ranging from buildings and vehicles to costumes and creatures. They can then add these items to the blockchain as NFTs, which they can sell on secondary coil markets such as OpenSea or The Sandbox ’ s crypto market. With no background in code required, players can design fully 3D games they can monetize .
Players need the SAND coin to participate in the blockchain adaptation of the game, deal ASSETS on the market and buy LANDs, which are digital plots of land in the game. They can besides use the SAND coin as a administration token to vote and propose improvements on the chopine through a Decentralized Autonomous Organization structure .
How Many SAND Coins Are in Circulation?
In 2021, there are approximately 1.06 billion SAND crypto tokens in circulation with the maximum provision being 3 billion units. Its market capitalization is presently more than $ 4 billion, with that count fluctuating dail eireann yttrium .
Of the total supply, around 31 % of it was allocated to the founders and team members along with 12 % allocated to a dedicated Binance Launchpad .
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How Does The Sandbox Work?
The Sandbox uses the Ethereum blockchain to track possession of NFT assets and LAND on its software. Users can further interact with the ecosystem with Ethereum wallets that keep their tokens. The blockchain-based game besides involves several tools that developers can use to create the assets they use. These tools are :
- Game Maker. A simple, no-coding-required tool that lets users test and build their 3D games within The Sandbox metaverse. It allows users to curate quests, edit terrain and create buildings and characters that they can then share with the Sandbox community.
- VoxEdit. Voxels are 3D pixels that look like lego blocks. VoxEdit is a user-friendly software that players and artists can use to animate, create and rig their voxel-based NFTs. It allows users to design animals and plants and create avatar-oriented equipment such as weapons or clothing.
Is The Sandbox Coin a Good Investment?
Over the past year, The Sandbox ’ south valuation soared by more than 11,600 %. Its evaluation is probable to increase promote with an increased interest in the metaverse. While the game faces rival from Decentraland and Enjin, The Sandbox has already attracted some high-profile partners like Atari, Snoop Dogg and Adidas that could give it an edge over its rivals. It besides lined up investments from some impressive names including Kingsway Capital, Galaxy Interactive and Polygon Studios .
however, it ’ mho authoritative to remember that The Sandbox metaverse is a direct elongation of the democratic mobile game. That means the success of this metaverse heavy relies on the bet on community ’ randomness interest and the intensity of Ethereum — the digital currency that ’ s powering it .
For The Sandbox to continue growing in value, the game needs to continually attract users will to play it. But given that it ’ randomness cryptocurrency-based — a modern, bad investment in its own right — in the much volatile gaming diligence, The Sandbox does appear to be a hazardous investing. You can only use the SAND token in the game itself, for exemplar, which limits its use .
Cryptocurrency Market Outlook
presently, the global crypto market cap stands at a fiddling more than $ 2 trillion with that come fluctuating daily, a significant uptick in value compared to 2021. Metaverse tokens are expected to rise in value as more people learn about virtual reality gaming worlds and are more will to use cryptocurrency .
According to its official web site, the platform has no plans to burn any SAND tokens in the near future. The chopine is working on bringing Sand mint back into the ecosystem through the Foundation “ to support capacity production through grants to creators and the stake pool .
Experts expect the crypto market to cool down in 2022, with many digital currencies losing the ballyhoo they ’ ve gained. It ’ ll be interest to see which ones survive 2022 and become long-run players, like Bitcoin.
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The Sandbox is promptly becoming a dominant allele pull in the virtual reality gaming industry with its impregnable back. Whether or not the success of the gambling world will have a aim effect on the SAND token ’ s value depends on how well The Sandbox can secure its drug user base .
FAQs on The Sandbox
Here are some more answers if you’re wondering about The Sandbox.
- How is The Sandbox network secured?
- Since The Sandbox virtual world is built on Ethereum’s blockchain system, the proof-of-stake consensus mechanism secures it. Bitcoin uses the proof-of-work consensus mechanism, which requires significant amounts of computing or electrical power to validate transactions. The PoS gives users the option to stake their tokens to be rewarded for validating transactions.
- How do you buy The Sandbox coin?
- With interest in the metaverse at an all-time high since November 2021, the SAND coin is now available through top crypto exchanges like Binance, Gemini and FTX. Before purchasing, you need to verify your identity with the exchange.Most exchanges require you to submit your Social Security details, address and an image of a valid ID like your driver’s license. Once you’ve set up your account and started trading, it’s a good idea to transfer your crypto to a personal wallet to keep it secure, especially if you aren’t planning on trading in the foreseeable future.
here are some more answers if you ‘re wondering about The Sandbox .
About the Author
Kiran Shahid has over 8 years of experience in copywriting and has worked for versatile clients across the earth. With certifications from Digital Marketer and a master ‘s degree in Entrepreneurship, she has been able to implement creative ideas and innovative strategies for her clients. Kiran has a bent for creating captivating message with an engaging tone of spokesperson. In her spare time, she loves to travel and try different cuisines .
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